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Zigmanuir [339]
2 years ago
13

Moskowitz Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 91 Ma

nufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 13 Direct labor $ 7 Variable manufacturing overhead $ 3 Fixed manufacturing overhead per year $480,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 6 Fixed selling and administrative expense per year $ 84,000 Year 1 Year 2 Units in beginning inventory 0 3,000 Units produced during the year 12,000 10,000 Units sold during the year 9,000 10,000 Units in ending inventory 3,000 3,000 The net operating income (loss) under variable costing in Year 2 is closest to:
Business
1 answer:
Molodets [167]2 years ago
8 0

Answer:

Moskowitz Corporation

The net operating income (loss) under variable costing in Year 2 is closest to:

= $56,000.

Explanation:

a) Data and Calculations:

Selling price per unit                                                            $ 91

Manufacturing costs:

Variable manufacturing cost per unit produced:

Direct materials                                                    $ 13

Direct labor                                                            $ 7

Variable manufacturing overhead                      $ 3            23

Contribution per unit                                                         $ 68

Fixed manufacturing overhead per year                 $480,000

Selling and administrative expenses:

Variable selling and administrative expense per unit sold $ 6

Fixed selling and administrative expense per year $ 84,000

                                                       Year 1         Year 2

Units in beginning inventory          0            3,000

Units produced during the year   12,000   10,000

Units sold during the year             9,000   10,000

Units in ending inventory              3,000     3,000

Year 2:

Income Statement:

Sales Revenue ($91 * 10,000) =  $910,000

Variable manufacturing costs      230,000 ($23 * 10,000)

Variable selling and admin.            60,000 ($6 * 10,000)

Contribution margin                   $620,000

Fixed manufacturing costs          480,000

Fixed selling and admin. costs      84,000

Net operating income (loss)      $ 56,000

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Explanation:

<u />

<u>1. Calculate the price of the car in a year from now.</u>

This is add the 4% on the current price:

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<u />

<u>2. Calculate the amount of money that must be put aside to have $20,800 in a year:</u>

<u />

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